Sequoia Financial Group to Acquire Nashville-based M Capital Advisors, Expanding Wealth Management Services

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Oct 20, 2023, 08:30 ET

AKRON, Ohio, Oct. 20, 2023 /PRNewswire/ -- Sequoia Financial Group, LLC (Sequoia), a leading SEC-registered wealth manager with more than $15 billion in assets under management as of Sept. 30, 2023, today announced it has entered into an agreement to acquire M Capital Advisors (M Capital), which has been providing customized portfolio management services to individuals and institutions for more than three decades. The firms expect the transaction to close by Oct. 31. Financial terms were not disclosed.

Founded in 1991, Akron, Ohio-based Sequoia provides asset management and wealth planning services across the wealth continuum—from individuals to family offices—with locations throughout the United States.

M Capital, based in Nashville, Tenn. and with an office in San Antonio, Texas, is an SEC-registered firm with $930 million in assets under management as of Sept. 30, 2023. Its clients are high net worth individuals, families, and institutions. Formed in 1993, M Capital employs a team of 13 professionals. The firm is led by Frank Mastrapasqua, founder and chairman; Mauro Mastrapasqua, CEO; Edwin Barton, chief portfolio strategist; Patrick Snell, chief investment officer; and Claude Koontz, principal and portfolio manager.

"M Capital has demonstrated its investment acumen on behalf of clients for decades, and its exceptional investment management capabilities will further strengthen ours," said Tom Haught, founder and CEO of Sequoia. "The leadership team at M Capital shares our commitment to providing service offerings that are built expressly for clients, and we look forward to doing just that as we join forces."

"Becoming part of Sequoia Financial will provide M Capital clients with broader and more tailored wealth management solutions, especially in the high and ultra high net worth areas, supported by Sequoia's extensive operational, technological, and financial resources," said Frank Mastrapasqua. "Sequoia's talented national wealth advisor team is second to none."

Sequoia has grown organically and through acquisitions to expand its services and geographic footprint. In 2023, Sequoia has announced four acquisitions, including Zeke Capital Advisors, Cirrus Wealth Management, and Affinia Financial Group. With the addition of the M Capital team, Sequoia will employ 250 people.

Sequoia was recently named by Barron's as one of the top RIA firms in the U.S. in 2023 for the fifth consecutive year. The ranking is based on assets managed, technology spending, staff diversity, succession planning, and other metrics.

Benesch, Friedlander, Coplan & Aronoff LLP served as legal advisor to Sequoia. Bradley Arant Boult Cummings, LLP served as legal advisor to M Capital.

About M Capital Advisors
Based in Nashville, Tenn., and with an office in San Antonio, Texas, M Capital Advisors is an SEC-registered firm managing approximately $930 million in assets as of Sept. 30, 2023. It serves high net worth individuals, families, and institutional investors. Formed in 1993, M Capital strives to build relationships and wealth through customized portfolio management by bringing a deep pool of investment research and understanding of the markets to its clients. For more information, visit www.mcapitaladv.com.

About Sequoia Financial Group
Sequoia Financial Group, LLC, founded in 1991, takes a client-centered approach to providing wealth management services, including asset management, estate and retirement planning, fiduciary consulting, and family wealth. Sequoia builds and maintains strong relationships that emphasize long-term planning to help clients reach their financial and life goals. Sequoia was named by Barron's as one of the top RIA firms in the U.S. in 2023 for the fifth consecutive year. Sequoia had more than $15 billion in assets under management as of Sept. 30, 2023. For more information, visit www.sequoia-financial,com.

SOURCE Sequoia Financial Group, LLC